A Natural Person Lease must be signed when the Tenant is a Natural Person or a Juristic Person with both an asset value and an annual turnover of less than R2 million.
A Natural Person is an individual and not an entity as listed below.
A Juristic Person Lease must be signed (regardless of their asset value or annual turnover) if both the Tenant and the Landlord are:
- Companies;
- Close Corporations;
- Body Corporates;
- Partnerships;
- Associations; or
- Trusts.